Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1887-11-21
WEEKLY TRADE REVIEW.
AN EXCITED ADVANCE IN STOCKS.
GRAIN AND PROVISIONS

EE-H-aH..e fN
The Speculative Fever Fed by an In
creased Volume ef Circulating Cur
roncy-Increased II eNanGes at south
orn and Western Cite
NEW YORK. Nov. 1e.-R. G. Dun s.
Co.'S weekly review of trade says. More
than a third of all the wheat which will
leave the firms throughout the country
during the entire year, wa sold in this
one city during the past six days. Re-
ported sales reached l07, 800, 900 bushels
of wheat, %, 275, 900 bushels Of corn, g.
1877, 600 barrels of oil, i ,046, 400 bales of
cotton and 46S, 900 bags of coffee. Wheat
advanced 8 1-2c, corn 4 1-8c, a t ! lac,
oil ] 1-Sc and coffee half q cent, while cot
ton declined a sixteenth; hogs, pork and
the pork product were excited, hogs ris-
ing 40 cents per hundred pounds and
lard 90 cents, tin jumped 5 LAC again,
and copper nearly cent. Apprehended
deficiency of supplies is the excuse for
the excited advance in some products,
but the bottom fact is that more currency
is In circulation than eyer before, and
treasury deposits with banks feed the
speculative fever, while removing the
fear of monetary pressure at the chief
centers of trade. Meanwhile money re-
mains light at many interior points and
complaints of slow collections do not
ahate. Business is generally act
i've for the season, though at some
points retarded by slow collections
or recent failures. Exchanges last week
fell below those of the same week last
year, but the great increase at most
western and southern cities continues.
AT Chicago the relief after the hanging
and funeral of the anarchists, gives a
new Impetus; ut Omaha collections are
satisfactory, and trade good; better bust
ness fs noted at Boston, especially in
wool, boots and shoes, and leather. At
Milwaukee trade is slightly duller; the
receiyership for the local dealers in min-
ing properties causes some disheartment.
At Atlanta trade is slightly less active,
and merchants are bending their ener.
gies to the work of liquidation. At
Memphis serious damage results from
the long drought, and prevalent fires;
Nashville finds fires and failures an en-
ba~rrassment; a bank failure, caused by
phenomenal loans, to various manu-
featuring concerns, affects ST. Louis; the
closing of a Canadian bank at Sault Ste.
Marie is reported, and money continues
close at Kansas City. Collections are
dull there, slow at Milwaukee, only fair
at Nashville and Atlanta, and slightly
backward at Philadelphia. The great
speculation in wheat goes on in spite Of
q decline of 81, 900 bushels in October ex-
ports, and $50, 900 bushels in September.
Never mind the exports; we are
making money! the traders say;
but the quantity remaining ON hand
Nov. LIST, after allowance for a full years.
consumption, was 100, 000, 900 bushels,
whereas the exports for the remaining
months of the last crop year were 100,-
76S, Sal bushels. Corn is excited be-
cause of the bureau reduction of 5,000,-
900 bushels In it's estimate, at the same
time pork products and cattle rise. Cot
ton has reacted but little from the great
advance caused by the bureaureport, but
receipts continue large beyond precedent;
if the bureau estimate Of $500, 600 bales
is correct, the quantity which has come
forward already, about 5, 254, 600 bales, Is
not less than SIG per cent of the years
yield. 1t is not strange that some ale in
doubt about it. Stocks advanced an av-
erage of 6 1-2 points from the lowest u
month ago, but showed some hesitation
on Thursday and Friday, under large
sales from Europe and elsewhere. Ex-
cellent earnings and prosperous business
In the interior are the prevailing argu-
ments, and there are very many new en-
terprises waiting to find buyers for secur-
tiles, 30 that strong parties are anxious
for a sustained advance. The iron inter
est is especially concerned. Consumption
continues large and prices are still held
with strong hopes that the marketing of
securities may ensure another year Of ex-
tensiye railroad building. In ten months
9,4S0 miles have been completed, against
1000 in the whole of last year. Coal is
in great demand, the Reading having
given notice OF another advance for the
21st, Exports for two weeks from New
York fall 1871 per cent. The treasury
continues to swell Its deposits with banks,
adding g., $50, 600 since last week, but
has taken in $240, 600 Of gold while put
ting out 81, 900, 900 silver Lotes. Money
is in fair supply at the chief centers of
trade, but the movement westward has
not even yet entirely. ceased Business
failures for The United States and Canada
during the past seven days, number 224,
compared with 242 for the corresponding
week of last year.
A PROScEjRED RACE